Jason Leung, global head of Cumberland, the cryptocurrency-focused unit of Chicago-based trading giant DRW, is leaving the firm.
He will be replaced by Chris Zuehlke, formerly chief technical officer at Cumberland, who has been employed with DRW for some 15 years.
"We are grateful to Jason for all of his work in helping us build the capabilities needed to deliver the institutional-grade experience we know counterparties in this space are looking for. We remain focused on the responsible evolution of the industry and to delivering a world-class trading experience."
Leung's departure follows that of Cumberland COO Bobby Cho at the beginning of last month.
Cho spent more than three years helping to build up DRW's crypto trading desk.
"Today, we have another change as Jason Leung, the Global Head of Cumberland, has made the decision to leave the firm. Jason brought his deep expertise in FX to this nascent asset class, helping us take important steps towards the level of sophistication I believe Cumberland needs to offer to each of you."
In March of 2019, Cumberland's global head of business development, James Radecki, a former Goldman Sachs banker, left the firm.
Earlier this year, DRW upgraded to a single-dealer platform.
Called Marea, allowing institutional investors to interact with Cumberland through a screen-based interface, rather than negotiating trades by phone or Skype.
Cumberland Global Head Jason Leung Latest to Leave Crypto Trading Firm
gepubliceerd op Jun 6, 2019
by Coindesk | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.